RISE Labs is at the forefront of blockchain technology, dedicating its resources and expertise to develop the most efficient EVM (Ethereum Virtual Machine) rollup stack. After months of stealth development, RISE Labs is excited to share its groundbreaking work with the community. This article delves into RISE Chain, focusing on the innovative Parallel EVM (PEVM) engine, its purpose, performance benchmarks, and its potential to transform the blockchain landscape.

Addressing Blockchain Performance Challenges

The Need for Speed

Ethereum, despite its popularity, faces significant performance challenges. In April, the combined transaction processing speed (TPS) of all Ethereum rollups ranged between 100 and 200 TPS, spread across over 50 rollups. In stark contrast, Solana consistently delivers 1000–2000 TPS. This disparity highlights the need for faster EVM execution to compete and scale effectively.

Overcoming Data Availability Bottlenecks

Historically, data availability (DA) was a major bottleneck for blockchain performance. However, advancements such as EIP4844 and external DA options have mitigated this issue. The new frontier in blockchain performance lies in execution speed. RISE Labs aims to address this by significantly accelerating the EVM block processing.

What is Parallel EVM (PEVM)?

PEVM is an enhanced version of the EVM designed to execute transactions in parallel, leveraging multiple CPU cores while ensuring deterministic outcomes. Traditional EVM processes transactions sequentially, but PEVM's parallel execution model drastically reduces block syncing and building time.

Key Features and Benchmarks

Blazingly Fast Execution in Rust

PEVM, though in its pre-alpha stage, has shown remarkable performance improvements. Initial benchmarks reveal a 10.55x improvement in Uniswap swaps due to their computational intensity compared to simple transfers. Real-world Ethereum blocks tested under PEVM demonstrated an average speed increase of 1.73x, with some blocks processing up to 3.62x faster.

Benchmark Analysis

• Large Blocks: PEVM excels with large blocks containing few dependencies, making it ideal for high-throughput scenarios.

• Typical Ethereum Blocks: While smaller blocks with more dependencies show varied results, PEVM still offers significant speed improvements, especially for Layer 2 solutions.

Future Optimizations

RISE Labs anticipates further performance enhancements, targeting an additional 3-5x improvement through various optimizations:

• Optimizing concurrent data structures to maximize CPU cache and stack memory.

• Granular memory management to reduce false dependencies.

• Incorporating pre-provided metadata from static mempool analysis.

• Custom memory allocators for the execution phase.

• Supporting multiple EVM executors, including REVM, JIT, and AOT compilers.

The Importance of Sequencing in Blockchain

Sequencing Misconceptions

There is a common misconception that Layer 2 solutions generate revenue primarily through sequencing transactions. While sequencing offers some revenue through MEV (Miner Extractable Value), leading Layer 2s focus on blockspace and execution. Effective sequencing ensures seamless transaction execution and interoperability, reducing fragmentation within the blockchain ecosystem.

The Fight on Sequencing

To achieve Universal Synchronous Composability (USC) and solve fragmentation issues, collaboration on sequencing is essential. Fragmentation will worsen without a unified approach to sequencing, hindering blockchain scalability and user experience. RISE Chain embraces collaborative sequencing to deliver top-tier execution performance.

Shared Sequencing: A Path to Interoperability

Shared sequencing provides the strongest solution to fragmentation by enabling atomic interoperability between rollups. Key considerations for sequencing solutions include:

• Centralized vs. Decentralized: Balancing simplicity and performance with liveness and censorship resistance.

• Shared vs. Solo: Leveraging synchronous interoperability and outsourcing sequencing versus simplicity and mature technology.

• Based vs. Non-based: Inheriting Ethereum's decentralization and security versus MEV protection and design flexibility.

Conclusion

RISE Labs is committed to pushing the boundaries of EVM performance, with PEVM at the heart of this mission. By accelerating EVM execution and promoting collaborative sequencing, RISE Chain aims to deliver unparalleled blockchain scalability and efficiency. Stay tuned for more updates from RISE Labs as they continue to innovate and optimize the future of blockchain technology.

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